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Cain, Alchemy-ABR Secure $321M Refi for Newly Delivered Plaza District Offices
Cain and Alchemy-ABR Investment Partners have secured a $321-million refinancing for 125 W. 57th St., a newly delivered Class A office tower on Billionaires’ Row in Manhattan’s Plaza District. The financing was provided by JPMorgan Chase as senior lender and Hudson Bay Capital as mezzanine lender.
The transaction follows JPMorgan Chase’s role as senior lender on Cain’s $4.3-billion One Beverly Hills construction financing, the largest of its kind in decades, and Cain’s delivery of 830 Brickell in Miami, a fully leased Class A office tower with tenants including Citadel, Microsoft, Kirkland & Ellis, Marsh, Thoma Bravo and Sidley Austin.
“Location, design and execution are what separate the exceptional from the merely available, and great cities continue to reward that difference,” said Jonathan Goldstein, CEO and co-founder of Cain. “We saw it at 830 Brickell in Miami, and we see it again here. This refinancing, backed by leading financial institutions, speaks to the depth of demand for assets of this caliber.”
Walker & Dunlop Capital Markets Institutional Advisory acted as exclusive advisor to Alchemy-ABR Investment Partners and Cain in arranging the financing. Adam Schwartz, Aaron Appel, Jonathan Schwartz, Keith Kurland, Sean Reimer, Dustin Stolly and Sean Bastian led the transaction.
- ◦Financing
